The Tuition Reform Action Coalition (TRAC) is the undergraduate students' organizing body behind New York University's (NYU) Tuition Reform campaign. The Coalition was formed in June 2005 by a group of undergraduate students frustrated with the University's tuition hikes and meager financial aid packages.
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Background
In 2005, Princeton Review ranked New York University No. 1 in the category of "Students Dissatisfied with Financial Aid". Since 2000, the cost of tuition at NYU has increased by $6,000 and the average per-borrower cumulative debt grew by $10,633. A 2006-graduating senior receiving no grants will end up paying an extra $10,342 in aggregated tuition hikes from the original price tag NYU presented him/her as an incoming student. NYU also routinely raises tuition as much as 3 times the inflation rate.
As a result, students at NYU graduate with one of the largest debts in the country. The Tuition Reform Action Coalition's reform platform was formed in response to these circumstances.
Platform
Almost 2,200 students and community members and over 30 student organizations have endorsed TRAC's platform, calling on the University to:
- Guarantee a stabilized tuition rate for undergraduate students by aligning any tuition increases to the annual inflation rate. Tuition stabilization must be automatic for all undergraduate students. NYU must be held accountable for any decision to raise tuition beyond the inflation rate.
- Carry out a comprehensive financial aid reform policy that would increase economic diversity and decrease the financial burden on its students by:
- Meeting 100% of students' federally calculated need
- Cutting the loans/jobs portion of the financial aid package by 50%
- Eliminating required family contributions from families of four with an annual income of $40,000 or less.